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California Mega Millions Jackpot Annuity Payout Schedule for Jun 30, 2023

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $368,000,000 for a ticket purchased in California, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

California

Drawing Date:Fri, Jun 30, 2023
Jackpot:$368,000,000
Federal Tax:37% marginal rate
State Tax: No state tax on lottery prizes
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$5,538,928$2,007,591$0$3,531,337
2$5,815,875$2,110,061$0$3,705,813
3$6,106,668$2,217,655$0$3,889,013
4$6,412,002$2,330,628$0$4,081,373
5$6,732,602$2,449,250$0$4,283,351
6$7,069,232$2,573,804$0$4,495,428
7$7,422,694$2,704,584$0$4,718,109
8$7,793,828$2,841,904$0$4,951,924
9$8,183,520$2,986,090$0$5,197,430
10$8,592,695$3,137,485$0$5,455,210
11$9,022,330$3,296,450$0$5,725,880
12$9,473,447$3,463,363$0$6,010,084
13$9,947,119$3,638,622$0$6,308,497
14$10,444,475$3,822,644$0$6,621,832
15$10,966,699$4,015,866$0$6,950,833
16$11,515,034$4,218,750$0$7,296,284
17$12,090,785$4,431,778$0$7,659,007
18$12,695,325$4,655,458$0$8,039,867
19$13,330,091$4,890,321$0$8,439,769
20$13,996,596$5,136,928$0$8,859,667
21$14,696,425$5,395,865$0$9,300,560
22$15,431,246$5,667,749$0$9,763,498
23$16,202,809$5,953,227$0$10,249,582
24$17,012,949$6,252,979$0$10,759,970
25$17,863,597$6,567,718$0$11,295,878
26$18,756,777$6,898,195$0$11,858,582
27$19,694,616$7,245,195$0$12,449,420
28$20,679,346$7,609,546$0$13,069,800
29$21,713,313$7,992,114$0$13,721,200
30$22,798,979$8,393,810$0$14,405,169
Total$368,000,001$134,905,630$0$233,094,367

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.